Kuwait and Tunisia open fourth ministerial meeting to boost ties
Kuwaiti investments in Tunisia total nearly half a billion dollars, with $200 million in government investments across sectors like finance, tourism, communications, industry, trade, agriculture, and real estate.
• The bilateral cooperation between Kuwait and Tunisia dates back to the early 1960s, with the establishment of diplomatic ties between the two nations and the signing of the first bilateral economic cooperation agreement in 1963.
The Kuwaiti-Tunisian Joint Higher Committee is holding its fourth session at the ministerial level in Tunis today, running until the 20th of this month. This session provides a new opportunity to strengthen the deep-rooted bilateral relations and enhance the fruitful cooperation between the two countries, according to Al Rai newspaper.
The bilateral cooperation between Kuwait and Tunisia dates back to the early 1960s, with the establishment of diplomatic relations between the two countries and the signing of the first bilateral economic cooperation agreement in 1963.
Kuwaiti investments in Tunisia began in 1976, forming a successful model of investment cooperation in Arab countries. These investments span various sectors, including financial services, tourism, telecommunications, industry, trade, agriculture, and real estate, contributing positively to Tunisia’s economic development.
The Kuwait Investment Authority is committed to supporting its investments in Tunisia through its investment arm, “Equity Capital,” demonstrating strong confidence in the Tunisian market, which has been actively developing its economic fabric. Investments focus on high-value sectors, such as communications technologies, pharmaceuticals, automotive, finance, and tourism.
The total volume of Kuwaiti investments in Tunisia is estimated to be close to half a billion dollars, with $200 million in government investments. These investments are spread across diverse and vital sectors, including financial services, tourism, communications, industry, trade, agriculture, and real estate.
Kuwait and Tunisia have signed about fifty agreements since the establishment of diplomatic relations, and the Joint Higher Committee will explore further developments in various aspects of cooperation, particularly working towards completing a direct air link between Tunisia and Kuwait.
During the third session of the Joint Higher Committee, held in Cairo in 2015, eight agreements, memorandums of understanding, and executive programs were signed, which contributed to enhancing bilateral cooperation in many vital fields.
In this context, Ahmed Ounaiss, former Tunisian Foreign Minister, confirmed that the fourth session of the Joint Higher Committee is “an important event between the two countries and will undoubtedly open new and promising avenues for cooperation.”
For his part, Abdullah Al-Abidi, former Tunisian diplomat, stated that the fourth session of the Joint Higher Committee will continue to strengthen ties between the two countries and praised the substantial Kuwaiti investment in Tunisia’s financial, energy, and tourism sectors.
